Apple Boosts Apple Card Savings APY to 3.50% Amid Issuer Transition

Apple has increased the interest rate offered through its Apple Card Savings account from 3.40% to 3.50%. The new annual percentage yield is effective for Apple Card Savings customers in the United States, with Apple updating its support documentation to reflect the change on September 23. This move reverses some of the reductions made to the account over the past year.

The Apple Card Savings APY had previously fallen from 3.65% to 3.50% before dropping again to 3.40%. The account, which was launched in 2023 with an initial APY of 4.15%, allows Apple Card owners and co-owners to automatically deposit their Daily Cash rewards into a high-yield savings account.

Clients can also transfer additional money into Savings from a linked bank account or Apple Cash. The account is provided by Goldman Sachs Bank USA and can be managed directly through the Wallet app on iPhone. Apple does not charge fees or require a minimum deposit or minimum balance to maintain the account.